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December 24, 2024  
 
 
  Business Loan Information  
 

Port Reading, New Jersey Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Port Reading, New Jersey are available. You just need to talk to the right bank.

If you are looking for a small business loan and your business is based in Port Reading, New Jersey, we've assembled a list of local small business banks that you should contact.

SBA Lenders for Port Reading Businesses

This is a list of banks outside of Port Reading, New Jersey that have provided SBA loans to Port Reading businesses. Some of these may be national banks with local branch locations.

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Commerce Bank
Philadelphia, PA
3
The Provident Bank
Jersey City, NJ
1
Unity Bank
Clinton, NJ
1

Port Reading Bank Loan Tips

Before contacting banks to get a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is essential. If the capital is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which you cannot repay the loan.

If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as the equity in your home. The banks will check on your personal credit history in any case, so hopefully you have good credit history -- you may want to get a copy of your credit history prior to meeting with the banker.

Many of the banks in our list participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to do your homework on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.

Gaebler.com Advice on Raising Money

If you are planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Getting a Small Business Loan.

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